Innovative Investment Products

Our comprehensive asset class offering includes a full suite of traditional passive, factor-based, fundamental active strategies and multi-asset class solutions, available in a variety of investment vehicles.

Fixed Income

A comprehensive suite of fixed income solutions, focused on preservation of capital and income, for taxable and tax-exempt investors.

Fixed Income Solutions to Fit Your Needs

Spanning the fixed income spectrum, we offer an efficient mix of risk asset portfolios and risk-control asset portfolios based on risk tolerance.

Comprehensive Process

Range of Solutions

Spanning the spectrum of fixed income and using multiple investment vehicles and currencies.

Our fixed income strategies invest in government and corporate debt securities, either seeking to track or outperform an index. Fixed income investing is subject to: interest rate risk: increases in prevailing interest rates may cause underlying fixed income securities to decline in value; and credit risk: the possibility that the issuer of the bond will not be able to repay the principal and make interest payments.

Comprehensive Process

Range of Solutions

Spanning the spectrum of fixed income and using multiple investment vehicles and currencies.

Our fixed income strategies invest in government and corporate debt securities, either seeking to track or outperform an index. Fixed income investing is subject to: interest rate risk: increases in prevailing interest rates may cause underlying fixed income securities to decline in value; and credit risk: the possibility that the issuer of the bond will not be able to repay the principal and make interest payments.

Comprehensive Process

Range of Solutions

Spanning the spectrum of fixed income and using multiple investment vehicles and currencies.

Our fixed income strategies invest in government and corporate debt securities, either seeking to track or outperform an index. Fixed income investing is subject to: interest rate risk: increases in prevailing interest rates may cause underlying fixed income securities to decline in value; and credit risk: the possibility that the issuer of the bond will not be able to repay the principal and make interest payments.

More Strategies

Investment Grade

Inflation-Linked

Featured Funds

The Ultra-Short Fixed Income Fund seeks to generate higher yields than money market funds with less volatility than short duration bond funds. It is intended for investors with an investment horizon of at least one year and strives to maintain a 6-18 month average maturity, under normal circumstances, with a maximum security maturity of three years. The Fund's investment objective is total return.

Comprehensive Process

Range of Solutions

Spanning the spectrum of fixed income and using multiple investment vehicles and currencies.

Our fixed income strategies invest in government and corporate debt securities, either seeking to track or outperform an index. Fixed income investing is subject to: interest rate risk: increases in prevailing interest rates may cause underlying fixed income securities to decline in value; and credit risk: the possibility that the issuer of the bond will not be able to repay the principal and make interest payments.

High Yield

Inflation-Linked

Featured Funds

The fund seeks to closely match the risk and return characteristics of the Bloomberg Barclays EM Local Currency Government 10% Country Capped B3 and Better Index. The fund excludes securities issued by any government that is subject to global sanctions from the United Nations or which appears on the Consolidated Unite Nations Security Council Sanctions List.

Comprehensive Process

Range of Solutions

Spanning the spectrum of fixed income and using multiple investment vehicles and currencies.

Our fixed income strategies invest in government and corporate debt securities, either seeking to track or outperform an index. Fixed income investing is subject to: interest rate risk: increases in prevailing interest rates may cause underlying fixed income securities to decline in value; and credit risk: the possibility that the issuer of the bond will not be able to repay the principal and make interest payments.

Comprehensive Process

Range of Solutions

Spanning the spectrum of fixed income and using multiple investment vehicles and currencies.

Our fixed income strategies invest in government and corporate debt securities, either seeking to track or outperform an index. Fixed income investing is subject to: interest rate risk: increases in prevailing interest rates may cause underlying fixed income securities to decline in value; and credit risk: the possibility that the issuer of the bond will not be able to repay the principal and make interest payments.

More Strategies

Investment Grade

High-Yield

Featured Funds

The Ultra-Short Fixed Income Fund seeks to generate higher yields than money market funds with less volatility than short duration bond funds. It is intended for investors with an investment horizon of at least one year and strives to maintain a 6-18 month average maturity, under normal circumstances, with a maximum security maturity of three years. The Fund's investment objective is total return.

Liquidity Solutions

Cash Segmentation

Changes in the global liquidity market require investors to adopt a more strategic and focused approach to liquidity management – moving beyond a one-size-fits-all approach.

Operational

(1 to 30-day maturities)

Day-to-day spending needs

High Liquidity, invested conservatively

Product Type

Money Market Fund

Reserve

(1 to 90-day maturities)

Intermediate or uncertain spending needs

Slightly reduced liquidity

Product Type

Money Market Fund, Custom Strategy

Strategic

(6 to 8-month maturities)

Long-term spending needs

Reduced liquidity

Seeks highest possible yield while preserving principle

Product Type

Ultra-short, Custom Strategy

Our Advantage

1

Portfolio Construction

Expertise driven by deep research and resulting in solutions focused on safety, liquidity and yield.

2

Global Solutions

Available across multiple investment vehicles and currencies

3

Experienced Team

With more than 40 years experience managing liquidity solutions.

Our cash management strategies invest in short-term government and corporate debt instruments. (Bonds and money market instruments) While generally subject to lower levels of risk than investing in equities or longer term debt, the strategies are not risk free. Risks include credit risk: that the lender may default; and liquidity risk: that it may be difficult to value or sell at the desired time or price.

Inflation-Linked

Liquidity Solutions

Cash Segmentation

Changes in the global liquidity market require investors to adopt a more strategic and focused approach to liquidity management – moving beyond a one-size-fits-all approach.

Operational

(1 to 30-day maturities)

Day-to-day spending needs

High Liquidity, invested conservatively

Product Type

Money Market Fund

Reserve

(1 to 90-day maturities)

Intermediate or uncertain spending needs

Slightly reduced liquidity

Product Type

Money Market Fund, Custom Strategy

Strategic

(6 to 8-month maturities)

Long-term spending needs

Reduced liquidity

Seeks highest possible yield while preserving principle

Product Type

Ultra-short, Custom Strategy

Our Advantage

1

Portfolio Construction

Expertise driven by deep research and resulting in solutions focused on safety, liquidity and yield.

2

Global Solutions

Available across multiple investment vehicles and currencies

3

Experienced Team

With more than 40 years experience managing liquidity solutions.

Our cash management strategies invest in short-term government and corporate debt instruments. (Bonds and money market instruments) While generally subject to lower levels of risk than investing in equities or longer term debt, the strategies are not risk free. Risks include credit risk: that the lender may default; and liquidity risk: that it may be difficult to value or sell at the desired time or price.

Inflation-Linked

Liquidity Solutions

Cash Segmentation

Changes in the global liquidity market require investors to adopt a more strategic and focused approach to liquidity management – moving beyond a one-size-fits-all approach.

Operational

(1 to 30-day maturities)

Day-to-day spending needs

High Liquidity, invested conservatively

Product Type

Money Market Fund

Reserve

(1 to 90-day maturities)

Intermediate or uncertain spending needs

Slightly reduced liquidity

Product Type

Money Market Fund, Custom Strategy

Strategic

(6 to 8-month maturities)

Long-term spending needs

Reduced liquidity

Seeks highest possible yield while preserving principle

Product Type

Ultra-short, Custom Strategy

Our Advantage

1

Portfolio Construction

Expertise driven by deep research and resulting in solutions focused on safety, liquidity and yield.

2

Global Solutions

Available across multiple investment vehicles and currencies

3

Experienced Team

With more than 40 years experience managing liquidity solutions.

Our cash management strategies invest in short-term government and corporate debt instruments. (Bonds and money market instruments) While generally subject to lower levels of risk than investing in equities or longer term debt, the strategies are not risk free. Risks include credit risk: that the lender may default; and liquidity risk: that it may be difficult to value or sell at the desired time or price.

More Strategies

Cash/Liquidity

Featured Funds

The Ultra-Short Fixed Income Fund seeks to generate higher yields than money market funds with less volatility than short duration bond funds. It is intended for investors with an investment horizon of at least one year and strives to maintain a 6-18 month average maturity, under normal circumstances, with a maximum security maturity of three years. The Fund's investment objective is total return.

More Funds

Cash/Liquidity

Featured Funds

FlexShares Ready Access Variable Income Fund (RAVI) seeks maximum current income consistent with the preservation of capital and liquidity. RAVI is comprised of fixed income instruments, including short-term debt securities, notes and other similar instruments issued by U.S. and non-U.S. public and private entities.

Liquidity Solutions

Cash Segmentation

Changes in the global liquidity market require investors to adopt a more strategic and focused approach to liquidity management – moving beyond a one-size-fits-all approach.

Operational

(1 to 30-day maturities)

Day-to-day spending needs

High Liquidity, invested conservatively

Product Type

Money Market Fund

Reserve

(1 to 90-day maturities)

Intermediate or uncertain spending needs

Slightly reduced liquidity

Product Type

Money Market Fund, Custom Strategy

Strategic

(6 to 8-month maturities)

Long-term spending needs

Reduced liquidity

Seeks highest possible yield while preserving principle

Product Type

Ultra-short, Custom Strategy

Our Advantage

1

Portfolio Construction

Expertise driven by deep research and resulting in solutions focused on safety, liquidity and yield.

2

Global Solutions

Available across multiple investment vehicles and currencies

3

Experienced Team

With more than 40 years experience managing liquidity solutions.

Our cash management strategies invest in short-term government and corporate debt instruments. (Bonds and money market instruments) While generally subject to lower levels of risk than investing in equities or longer term debt, the strategies are not risk free. Risks include credit risk: that the lender may default; and liquidity risk: that it may be difficult to value or sell at the desired time or price.

Liquidity Solutions

Cash Segmentation

Changes in the global liquidity market require investors to adopt a more strategic and focused approach to liquidity management – moving beyond a one-size-fits-all approach.

Operational

(1 to 30-day maturities)

Day-to-day spending needs

High Liquidity, invested conservatively

Product Type

Money Market Fund

Reserve

(1 to 90-day maturities)

Intermediate or uncertain spending needs

Slightly reduced liquidity

Product Type

Money Market Fund, Custom Strategy

Strategic

(6 to 8-month maturities)

Long-term spending needs

Reduced liquidity

Seeks highest possible yield while preserving principle

Product Type

Ultra-short, Custom Strategy

Our Advantage

1

Portfolio Construction

Expertise driven by deep research and resulting in solutions focused on safety, liquidity and yield.

2

Global Solutions

Available across multiple investment vehicles and currencies

3

Experienced Team

With more than 40 years experience managing liquidity solutions.

Our cash management strategies invest in short-term government and corporate debt instruments. (Bonds and money market instruments) While generally subject to lower levels of risk than investing in equities or longer term debt, the strategies are not risk free. Risks include credit risk: that the lender may default; and liquidity risk: that it may be difficult to value or sell at the desired time or price.

Inflation-Linked

Liquidity Solutions

Cash Segmentation

Changes in the global liquidity market require investors to adopt a more strategic and focused approach to liquidity management – moving beyond a one-size-fits-all approach.

Operational

(1 to 30-day maturities)

Day-to-day spending needs

High Liquidity, invested conservatively

Product Type

Money Market Fund

Reserve

(1 to 90-day maturities)

Intermediate or uncertain spending needs

Slightly reduced liquidity

Product Type

Money Market Fund, Custom Strategy

Strategic

(6 to 8-month maturities)

Long-term spending needs

Reduced liquidity

Seeks highest possible yield while preserving principle

Product Type

Ultra-short, Custom Strategy

Our Advantage

1

Portfolio Construction

Expertise driven by deep research and resulting in solutions focused on safety, liquidity and yield.

2

Global Solutions

Available across multiple investment vehicles and currencies

3

Experienced Team

With more than 40 years experience managing liquidity solutions.

Our cash management strategies invest in short-term government and corporate debt instruments. (Bonds and money market instruments) While generally subject to lower levels of risk than investing in equities or longer term debt, the strategies are not risk free. Risks include credit risk: that the lender may default; and liquidity risk: that it may be difficult to value or sell at the desired time or price.

More Strategies

Cash/Liquidity

Featured Funds

The Ultra-Short Fixed Income Fund seeks to generate higher yields than money market funds with less volatility than short duration bond funds. It is intended for investors with an investment horizon of at least one year and strives to maintain a 6-18 month average maturity, under normal circumstances, with a maximum security maturity of three years. The Fund's investment objective is total return.

More Funds

Cash/Liquidity

Featured Funds

FlexShares Ready Access Variable Income Fund (RAVI) seeks maximum current income consistent with the preservation of capital and liquidity. RAVI is comprised of fixed income instruments, including short-term debt securities, notes and other similar instruments issued by U.S. and non-U.S. public and private entities.

multi-dimensional quality factor

Purity in Factor Exposure

Solutions designed to avoid unintended risks and sector biases to achieve purer factor exposures and deliver more persistent, repeatable results.

Quantitative equity strategies target specific factors. These strategies do not seek to replicate the performance of a specified cap-weighted index; also, factors are cyclical in nature. Therefore, it is possible for these strategies to underperform an index.

Multi factor strategies seek diversification across a mix of factors but are subject to concentration risk: Investments within the same industry, region or security type tend to be highly correlated and cyclical in nature; unlike diversified investments, they may experience periods of underperformance/overperformance in tandem.

A ‘quality’ investment strategy, which seeks to invest in companies with high returns, stable earnings, and low financial leverage, is subject to the risk that the past performance of these companies does not continue. ‘Quality’ equity securities may outperform/underperform other securities or the overall stock market from time to time.

multi-dimensional quality factor

Purity in Factor Exposure

Solutions designed to avoid unintended risks and sector biases to achieve purer factor exposures and deliver more persistent, repeatable results.

Quantitative equity strategies target specific factors. These strategies do not seek to replicate the performance of a specified cap-weighted index; also, factors are cyclical in nature. Therefore, it is possible for these strategies to underperform an index.

Multi factor strategies seek diversification across a mix of factors but are subject to concentration risk: Investments within the same industry, region or security type tend to be highly correlated and cyclical in nature; unlike diversified investments, they may experience periods of underperformance/overperformance in tandem.

A ‘quality’ investment strategy, which seeks to invest in companies with high returns, stable earnings, and low financial leverage, is subject to the risk that the past performance of these companies does not continue. ‘Quality’ equity securities may outperform/underperform other securities or the overall stock market from time to time.

multi-dimensional quality factor

Purity in Factor Exposure

Solutions designed to avoid unintended risks and sector biases to achieve purer factor exposures and deliver more persistent, repeatable results.

Quantitative equity strategies target specific factors. These strategies do not seek to replicate the performance of a specified cap-weighted index; also, factors are cyclical in nature. Therefore, it is possible for these strategies to underperform an index.

Multi factor strategies seek diversification across a mix of factors but are subject to concentration risk: Investments within the same industry, region or security type tend to be highly correlated and cyclical in nature; unlike diversified investments, they may experience periods of underperformance/overperformance in tandem.

A ‘quality’ investment strategy, which seeks to invest in companies with high returns, stable earnings, and low financial leverage, is subject to the risk that the past performance of these companies does not continue. ‘Quality’ equity securities may outperform/underperform other securities or the overall stock market from time to time.

Featured Funds

Global Tactical Asset Allocation Fund (BBALX)

Small Cap Value Fund (NOSGX)

Seeks to efficiently capture the small-cap premium and deliver excess returns by investing in a diverse portfolio of quality, undervalued small-cap companies.

U.S. Quality ESG Fund (NUESX)

The strategy uses a proprietary multi-factor model based on rigorous academic and empirical research to target quality U.S. large- and mid-cap companies with favorable environmental, social and governance (ESG) qualities.

US Small Cap

Developed Markets Ex-US

Featured Funds

Pursues income and long-term growth potential, with a focus on U.S. quality. A proprietary optimization process looks to emphasize quality and manage risk while diversifying across sectors and industries.

Pursues income and long-term growth potential, with a focus on international quality. A proprietary optimization process looks to emphasize quality and manage risk while diversifying across sectors, industries and international markets.

multi-dimensional quality factor

Purity in Factor Exposure

Solutions designed to avoid unintended risks and sector biases to achieve purer factor exposures and deliver more persistent, repeatable results.

Quantitative equity strategies target specific factors. These strategies do not seek to replicate the performance of a specified cap-weighted index; also, factors are cyclical in nature. Therefore, it is possible for these strategies to underperform an index.

Multi factor strategies seek diversification across a mix of factors but are subject to concentration risk: Investments within the same industry, region or security type tend to be highly correlated and cyclical in nature; unlike diversified investments, they may experience periods of underperformance/overperformance in tandem.

A ‘quality’ investment strategy, which seeks to invest in companies with high returns, stable earnings, and low financial leverage, is subject to the risk that the past performance of these companies does not continue. ‘Quality’ equity securities may outperform/underperform other securities or the overall stock market from time to time.

multi-dimensional quality factor

Purity in Factor Exposure

Solutions designed to avoid unintended risks and sector biases to achieve purer factor exposures and deliver more persistent, repeatable results.

Quantitative equity strategies target specific factors. These strategies do not seek to replicate the performance of a specified cap-weighted index; also, factors are cyclical in nature. Therefore, it is possible for these strategies to underperform an index.

Multi factor strategies seek diversification across a mix of factors but are subject to concentration risk: Investments within the same industry, region or security type tend to be highly correlated and cyclical in nature; unlike diversified investments, they may experience periods of underperformance/overperformance in tandem.

A ‘quality’ investment strategy, which seeks to invest in companies with high returns, stable earnings, and low financial leverage, is subject to the risk that the past performance of these companies does not continue. ‘Quality’ equity securities may outperform/underperform other securities or the overall stock market from time to time.

multi-dimensional quality factor

Purity in Factor Exposure

Solutions designed to avoid unintended risks and sector biases to achieve purer factor exposures and deliver more persistent, repeatable results.

Quantitative equity strategies target specific factors. These strategies do not seek to replicate the performance of a specified cap-weighted index; also, factors are cyclical in nature. Therefore, it is possible for these strategies to underperform an index.

Multi factor strategies seek diversification across a mix of factors but are subject to concentration risk: Investments within the same industry, region or security type tend to be highly correlated and cyclical in nature; unlike diversified investments, they may experience periods of underperformance/overperformance in tandem.

A ‘quality’ investment strategy, which seeks to invest in companies with high returns, stable earnings, and low financial leverage, is subject to the risk that the past performance of these companies does not continue. ‘Quality’ equity securities may outperform/underperform other securities or the overall stock market from time to time.

Featured Funds

Global Tactical Asset Allocation Fund (BBALX)

Small Cap Value Fund (NOSGX)

Seeks to efficiently capture the small-cap premium and deliver excess returns by investing in a diverse portfolio of quality, undervalued small-cap companies.

U.S. Quality ESG Fund (NUESX)

The strategy uses a proprietary multi-factor model based on rigorous academic and empirical research to target quality U.S. large- and mid-cap companies with favorable environmental, social and governance (ESG) qualities.

US Small Cap

Developed Markets Ex-US

Featured Funds

Pursues income and long-term growth potential, with a focus on U.S. quality. A proprietary optimization process looks to emphasize quality and manage risk while diversifying across sectors and industries.

Pursues income and long-term growth potential, with a focus on international quality. A proprietary optimization process looks to emphasize quality and manage risk while diversifying across sectors, industries and international markets.

Developed Markets Ex-US

Emerging Markets

Multi-Asset

Our transparent, globally diversified and cost-efficient multi-asset solutions use strategic and tactical asset allocation, which are designed to maximize portfolio efficiency and adapt to changing market and economic conditions.

Five-year Capital Market Assumptions

Targeting an efficient mix of Risk Asset and Risk-Control Asset Portfolios based on risk tolerance.

Multi-asset strategies invest in a broad range of global assets such as equities, bonds, deposits, cash, property and commodities. An asset allocation strategy does not guarantee any specific result nor protect against loss. The underlying assets in a multi-asset class strategy may be subject to equity risk: equity securities are more volatile than other asset classes and may fluctuate in value; interest rate risk: increases in prevailing interest rates may cause underlying fixed income securities to decline in value; and international risk: international investing involves increased risk and volatility.

Global Tactical Asset Allocation Fund (BBALX)

Featured Funds

There are no Exchange Traded Funds for Canada.

Multi-Asset

Our transparent, globally diversified and cost-efficient multi-asset solutions use strategic and tactical asset allocation, which are designed to maximize portfolio efficiency and adapt to changing market and economic conditions.

Five-year Capital Market Assumptions

Targeting an efficient mix of Risk Asset and Risk-Control Asset Portfolios based on risk tolerance.

Multi-asset strategies invest in a broad range of global assets such as equities, bonds, deposits, cash, property and commodities. An asset allocation strategy does not guarantee any specific result nor protect against loss. The underlying assets in a multi-asset class strategy may be subject to equity risk: equity securities are more volatile than other asset classes and may fluctuate in value; interest rate risk: increases in prevailing interest rates may cause underlying fixed income securities to decline in value; and international risk: international investing involves increased risk and volatility.

Adding value beyond diversification

Quality Low Volatility

When choosing which factors to add to your portfolio, we believe that using a comprehensive quality score can be a better predictor of future volatility.

That’s why our Quality Low Volatility strategy employs minimum variance portfolios to mitigate sector/region concentrations and turnover. In the end, we believe this delivers a more efficient portfolio and, by capturing low-volatility and factor premiums, can lead to more consistent performance.

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Quality International Core

When you’re focused on achieving your desired investment outcome, it’s important to identify and capitalize on opportunities – while keeping an eye on risk.

The Quality International Core Strategy, which seeks to capture value and quality premium in an international large-cap universe, employs a multi-factor model – using value, quality and momentum – to create an alpha forecast and inform our portfolio construction. All of this comes together in a thoughtfully crafted portfolio designed to actively manage alpha, risk and costs.

Quality ESG

Our process focuses on financial sustainability or quality and considers ESG metrics such as company ratings, business involvement and carbon emissions/reserves. The result is a portfolio of higher-quality companies with above peer-group ESG ratings and 50% less carbon footprint.

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Quality Low Volatility

When choosing which factors to add to your portfolio, we believe that using a comprehensive quality score can be a better predictor of future volatility.

That’s why our Quality Low Volatility strategy employs minimum variance portfolios to mitigate sector/region concentrations and turnover. In the end, we believe this delivers a more efficient portfolio and, by capturing low-volatility and factor premiums, can lead to more consistent performance.

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Quality International Core

When you’re focused on achieving your desired investment outcome, it’s important to identify and capitalize on opportunities – while keeping an eye on risk.

The Quality International Core Strategy, which seeks to capture value and quality premium in an international large-cap universe, employs a multi-factor model – using value, quality and momentum – to create an alpha forecast and inform our portfolio construction. All of this comes together in a thoughtfully crafted portfolio designed to actively manage alpha, risk and costs.

Quality ESG

Our process focuses on financial sustainability or quality and considers ESG metrics such as company ratings, business involvement and carbon emissions/reserves. The result is a portfolio of higher-quality companies with above peer-group ESG ratings and 50% less carbon footprint.

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Global Tactical Asset Allocation Fund (BBALX)

Multi-asset class solutions strategies are designed to harness the power of diversification – but they shouldn’t overlook risk.

The Northern Global Tactical Asset Allocation Fund is a transparent, globally diversified and cost-efficient turnkey strategy designed to help maximize portfolio efficiency while adapting to changing market/economic conditions.

Grounded in our comprehensive strategic and tactical asset allocation process, the fund uses ETFs to target risk-, cost, and tax-efficiency, as well as real assets to offer additional diversification opportunities and increase risk-efficiency.

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Global Tactical Asset Allocation Fund (BBALX)

Multi-asset class solutions strategies are designed to harness the power of diversification – but they shouldn’t overlook risk.

The Northern Global Tactical Asset Allocation Fund is a transparent, globally diversified and cost-efficient turnkey strategy designed to help maximize portfolio efficiency while adapting to changing market/economic conditions.

Grounded in our comprehensive strategic and tactical asset allocation process, the fund uses ETFs to target risk-, cost, and tax-efficiency, as well as real assets to offer additional diversification opportunities and increase risk-efficiency.

Powered By

Quality Low Volatility

When choosing which factors to add to your portfolio, we believe that using a comprehensive quality score can be a better predictor of future volatility.

That’s why our Quality Low Volatility strategy employs minimum variance portfolios to mitigate sector/region concentrations and turnover. In the end, we believe this delivers a more efficient portfolio and, by capturing low-volatility and factor premiums, can lead to more consistent performance.

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High Dividend ESG World Equity

There is compelling evidence that shows quality companies – those with sound ESG principles – tend to mitigate risk and have sustainable business models.

The High Dividend ESG World Equity strategy seeks to identify quality companies and capture quality premium and dividend yield in a diversified global portfolio. Combining the quality factor with dividends has the potential to enhance income and manage volatility.

Powered By

Quality ESG

When choosing which factors to add to your portfolio, we believe that using a comprehensive quality score can be a better predictor of future volatility.

That’s why our Quality Low Volatility strategy employs minimum variance portfolios to mitigate sector/region concentrations and turnover. In the end, we believe this delivers a more efficient portfolio and, by capturing low-volatility and factor premiums, can lead to more consistent performance.

Powered By

Quality Low Volatility

When choosing which factors to add to your portfolio, we believe that using a comprehensive quality score can be a better predictor of future volatility.

That’s why our Quality Low Volatility strategy employs minimum variance portfolios to mitigate sector/region concentrations and turnover. In the end, we believe this delivers a more efficient portfolio and, by capturing low-volatility and factor premiums, can lead to more consistent performance.

Powered By

High Dividend ESG World Equity

There is compelling evidence that shows quality companies – those with sound ESG principles – tend to mitigate risk and have sustainable business models.

The High Dividend ESG World Equity strategy seeks to identify quality companies and capture quality premium and dividend yield in a diversified global portfolio. Combining the quality factor with dividends has the potential to enhance income and manage volatility.

Powered By

Quality ESG

When choosing which factors to add to your portfolio, we believe that using a comprehensive quality score can be a better predictor of future volatility.

That’s why our Quality Low Volatility strategy employs minimum variance portfolios to mitigate sector/region concentrations and turnover. In the end, we believe this delivers a more efficient portfolio and, by capturing low-volatility and factor premiums, can lead to more consistent performance.

Powered By

Quality Low Volatility

When choosing which factors to add to your portfolio, we believe that using a comprehensive quality score can be a better predictor of future volatility.

That’s why our Quality Low Volatility strategy employs minimum variance portfolios to mitigate sector/region concentrations and turnover. In the end, we believe this delivers a more efficient portfolio and, by capturing low-volatility and factor premiums, can lead to more consistent performance.

Powered By

High Dividend ESG World Equity

There is compelling evidence that shows quality companies – those with sound ESG principles – tend to mitigate risk and have sustainable business models.

The High Dividend ESG World Equity strategy seeks to identify quality companies and capture quality premium and dividend yield in a diversified global portfolio. Combining the quality factor with dividends has the potential to enhance income and manage volatility.

Powered By

Quality ESG

When choosing which factors to add to your portfolio, we believe that using a comprehensive quality score can be a better predictor of future volatility.

That’s why our Quality Low Volatility strategy employs minimum variance portfolios to mitigate sector/region concentrations and turnover. In the end, we believe this delivers a more efficient portfolio and, by capturing low-volatility and factor premiums, can lead to more consistent performance.

Powered By

Quality Low Volatility

When choosing which factors to add to your portfolio, we believe that using a comprehensive quality score can be a better predictor of future volatility.

That’s why our Quality Low Volatility strategy employs minimum variance portfolios to mitigate sector/region concentrations and turnover. In the end, we believe this delivers a more efficient portfolio and, by capturing low-volatility and factor premiums, can lead to more consistent performance.

Powered By

High Dividend ESG World Equity

There is compelling evidence that shows quality companies – those with sound ESG principles – tend to mitigate risk and have sustainable business models.

The High Dividend ESG World Equity strategy seeks to identify quality companies and capture quality premium and dividend yield in a diversified global portfolio. Combining the quality factor with dividends has the potential to enhance income and manage volatility.

Powered By

Quality ESG

When choosing which factors to add to your portfolio, we believe that using a comprehensive quality score can be a better predictor of future volatility.

That’s why our Quality Low Volatility strategy employs minimum variance portfolios to mitigate sector/region concentrations and turnover. In the end, we believe this delivers a more efficient portfolio and, by capturing low-volatility and factor premiums, can lead to more consistent performance.

Powered By

Diversified Strategist Portfolios

A turnkey target risk investment program managed in a globally diversified, multi-asset class framework with a tactical asset allocation overlay.

The model portfolios are designed to be risk-efficient, cost-effective managed accounts to suit a range of investor goals. Built with factor ETFs, the strategies target specific equity factors, emphasizing quality.

Goal Engineer Series

A turnkey goals-based investment program managed in a globally diversified, multi-asset class framework.

The glidepath adjusts the asset mix as the goal date approaches. The seven portfolio options, with increasing five-year increments, are designed to be risk-efficient and cost-effective managed accounts to suit a range of investor goals. Built with factor ETFs, the strategies target specific equity factors, emphasizing quality.

Global Tactical Asset Allocation Fund (BBALX)

Multi-asset class solutions are designed to harness the power of diversification – but they shouldn’t overlook risk.

The Northern Global Tactical Asset Allocation Fund is a transparent, globally diversified and cost-efficient turnkey strategy designed to help maximize portfolio efficiency while adapting to changing market/economic conditions.

Grounded in our comprehensive strategic and tactical asset allocation process, the fund uses ETFs to target risk-, cost, and tax-efficiency, as well as real assets to offer additional diversification opportunities and increase risk-efficiency.

Diversified Strategist Portfolios

A turnkey target risk investment program managed in a globally diversified, multi-asset class framework with a tactical asset allocation overlay.

The model portfolios are designed to be risk-efficient, cost-effective managed accounts to suit a range of investor goals. Built with factor ETFs, the strategies target specific equity factors, emphasizing quality.

Goal Engineer Series

A turnkey goals-based investment program managed in a globally diversified, multi-asset class framework.

The glidepath adjusts the asset mix as the goal date approaches. The seven portfolio options, with increasing five-year increments, are designed to be risk-efficient and cost-effective managed accounts to suit a range of investor goals. Built with factor ETFs, the strategies target specific equity factors, emphasizing quality.

Global Tactical Asset Allocation Fund (BBALX)

Multi-asset class solutions are designed to harness the power of diversification – but they shouldn’t overlook risk.

The Northern Global Tactical Asset Allocation Fund is a transparent, globally diversified and cost-efficient turnkey strategy designed to help maximize portfolio efficiency while adapting to changing market/economic conditions.

Grounded in our comprehensive strategic and tactical asset allocation process, the fund uses ETFs to target risk-, cost, and tax-efficiency, as well as real assets to offer additional diversification opportunities and increase risk-efficiency.

The Quality factor consistently outperformed all other factors, on an annualized basis, for the 15-year period ending 12/31/17.

Disclosures: Factor returns are defined as the equally weighted top or bottom 20% of the Russell 3000® Index. Ranking is based on exposure to factor as defined by Barra (Value, Momentum, Volatility, Dividend Yield), Northern Trust (Quality) and Market Cap (size). Factors are winsorized to remove extreme 5% of the outliers. Past performance is no guarantee of future results. Index performance returns do not reflect any management fees, transaction costs or expenses. It is not possible to invest directly in an index. The Russell 3000® Index returned 12.7% and 21.1% for the 1-year period ending 12/31/2016 and 12/31/2017, respectively, and 10.3% for the 15-year (annualized) period ending 12/31/2017.

Value

Top of the charts for

7 Years

The Value factor was at the top of the heap for 7 out of 15 years ending 12/31/17.

Disclosures: Factor returns are defined as the equally weighted top or bottom 20% of the Russell 3000® Index. Ranking is based on exposure to factor as defined by Barra (Value, Momentum, Volatility, Dividend Yield), Northern Trust (Quality) and Market Cap (size). Factors are winsorized to remove extreme 5% of the outliers. Past performance is no guarantee of future results. Index performance returns do not reflect any management fees, transaction costs or expenses. It is not possible to invest directly in an index. The Russell 3000® Index returned 12.7% and 21.1% for the 1-year period ending 12/31/2016 and 12/31/2017, respectively, and 10.3% for the 15-year (annualized) period ending 12/31/2017.

Low Volatility

Double-Digit

Returns

When it comes to Low Volatility, slow and steady may not win the race – but it turned in double-digit annualized returns of 12.1% over the 15-year period ending 12/31/17.

Disclosures: Factor returns are defined as the equally weighted top or bottom 20% of the Russell 3000® Index. Ranking is based on exposure to factor as defined by Barra (Value, Momentum, Volatility, Dividend Yield), Northern Trust (Quality) and Market Cap (size). Factors are winsorized to remove extreme 5% of the outliers. Past performance is no guarantee of future results. Index performance returns do not reflect any management fees, transaction costs or expenses. It is not possible to invest directly in an index. The Russell 3000® Index returned 12.7% and 21.1% for the 1-year period ending 12/31/2016 and 12/31/2017, respectively, and 10.3% for the 15-year (annualized) period ending 12/31/2017.

Dividend Yield

Power of Dividends

66%

Dividends have played a significant role in the returns investors have received during the past 40 years. Going back to 1978, 66% of the total return of the Russell 1000® Index can be attributed to reinvested dividends and the power of compounding.

Past performance is no guarantee of future results. Index performance returns do not reflect any management fees, transaction costs or expenses. It is not possible to invest directly in an index. Analysis of the total return of the Russell 1000® Index from 12/31/78-12/31/17 into dividend contribution and price return of the index.

Momentum

Outperformed

18.50%

After a poor showing in 2016, Momentum picked up steam in 2017 and outperformed its factor peers – Quality, Value, Low Volatility, Size and Dividend Yield – for the period ending 12/31/17.

Disclosures: Factor returns are defined as the equally weighted top or bottom 20% of the Russell 3000® Index. Ranking is based on exposure to factor as defined by Barra (Value, Momentum, Volatility, Dividend Yield), Northern Trust (Quality) and Market Cap (size). Factors are winsorized to remove extreme 5% of the outliers. Past performance is no guarantee of future results. Index performance returns do not reflect any management fees, transaction costs or expenses. It is not possible to invest directly in an index. The Russell 3000® Index returned 12.7% and 21.1% for the 1-year period ending 12/31/2016 and 12/31/2017, respectively, and 10.3% for the 15-year (annualized) period ending 12/31/2017.

The momentum factor returned 5.5% and 18.5% for the 1-year period ending 12/31/2016 and 12/31/2017, respectively, and 10.5% for the 15-year (annualized) period ending 12/31/2017.

size

Consistently

Paid Off

Size may not have wowed investors in any given year, but it performed consistently – returning 11.7% on an annualized basis for the 15-year period ending 12/31/17.

Disclosures: Factor returns are defined as the equally weighted top or bottom 20% of the Russell 3000® Index. Ranking is based on exposure to factor as defined by Barra (Value, Momentum, Volatility, Dividend Yield), Northern Trust (Quality) and Market Cap (size). Factors are winsorized to remove extreme 5% of the outliers. Past performance is no guarantee of future results. Index performance returns do not reflect any management fees, transaction costs or expenses. It is not possible to invest directly in an index. The Russell 3000® Index returned 12.7% and 21.1% for the 1-year period ending 12/31/2016 and 12/31/2017, respectively, and 10.3% for the 15-year (annualized) period ending 12/31/2017.

Entrusted with nearly $900 billion of assets, we understand that investing ultimately serves a greater purpose and believe investors should be compensated for the risks they take — in all market environments and any investment strategy.

Forward-looking statements and assumptions are Northern Trust’s current estimates or expectations of future events or future results based upon proprietary research and should not be construed as an estimate or promise of results that a portfolio may achieve. Actual results could differ materially from the results indicated by this information.

Capital Market Assumption (CMA) model expected returns do not show actual performance and are for illustrative purposes only. They do not reflect actual trading, liquidity constraints, fees, expenses, taxes and other factors that could impact the future returns. Stated return expectations may differ from an investor’s actual result. The assumptions, views, techniques and forecasts noted are subject to change without notice.

You could lose money by investing in the Money Market Funds. Although each of the Money Market Funds seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The Funds’ sponsor has no legal obligation to provide financial support to the Funds, and you should not expect that the sponsor will provide financial support to the Funds at any time.

The Money Market Fund and the Municipal Money Market Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors.

An investment in Northern Funds involves risks, including possible loss of principal. Asset Allocation Risk: An asset allocation strategy does not guarantee any specific result or profit nor protect against a loss. Bond Risk: Bond funds will tend to experience smaller fluctuations in value than stock funds. However, investors in any bond fund should anticipate fluctuations in price, especially for longer-term issues and in environments of rising interest rates. Equity Risk: Equity securities (stocks) are more volatile and carry more risk than other forms of investments, including investments in high-grade fixed-income securities. The net asset value per share of this Fund will fluctuate as the value of the securities in the portfolio changes. Small-Cap Risk: Small-capitalization funds typically carry additional risks since smaller companies generally have a higher risk of failure. Their stocks are subject to a greater degree of volatility, trade in lower volume and may be less liquid. International Risk: International investing involves increased risk and volatility. Bond Risk: Bond funds will tend to experience smaller fluctuations in value than stock funds. However, investors in any bond fund should anticipate fluctuations in price, especially for longer-term issues and in environments of rising interest rates. Interest Rate Risk: Increases in prevailing interest rates will cause fixed income securities, including convertible securities, held by the Fund to decline in value. Interest Rate Risk: Increases in prevailing interest rates will cause fixed-income securities, including convertible securities, held by the Fund to decline in value. Value Risk: Value-based investments are subject to the risk that the broad market may not recognize their intrinsic value. For more important risk information, please visit individual fund pages information.

Please carefully read the summary prospectus or prospectus and consider the investment objectives, risks, charges and expenses of Northern Funds or FlexShares before investing. Call 800-595-9111 to obtain a summary prospectus or prospectus for Northern Funds or visit www.flexshares.com for FlexShares. The summary prospectus and prospectus contain this and other information about the Funds.

Investment involves risk, the value of an investment in a Fund may fall as well as rise. Funds shown may not available to investors in all jurisdictions. For legal and regulatory information about our offices and legal entities visit northerntrust.com/disclosures.

The Funds shown are sub-funds of Northern Trust Global Funds plc, Northern Trust Investment Funds plc or Northern Trust UCITS Common Contractual Fund, which are regulated collective investment schemes in Ireland under Central Bank of Ireland UCITS regulations. Past performance does not guarantee future results. Information contained herein has been obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. Information is only current as of the date stated and is subject to change without notice. This information does not constitute a recommendation for any investment strategy or product described herein. This information is not intended as investment advice and does not take into account an investor’s individual circumstances. The prospectus in available in English and the key investor information document is available at www.northerntrust.com/pooledfunds.

For Asia-Pacific markets, this material is directed to expert, institutional, professional and wholesale investors only and should not be relied upon by retail clients or invest.

For Asia-Pacific markets, this material is directed to expert, institutional, professional and wholesale investors only and should not be relied upon by retail clients or investors. In Australia, The Northern Trust Company of Hong Kong Limited (TNTCHK) is exempt from the requirement to hold an Australian Financial Services Licence under the Corporations Act. TNTCHK is authorized and regulated by the SFC under Hong Kong laws, which differ from Australian laws.

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